Public Joint Stock Company Polyus (PLZL) H2 2024 earnings summary

Executive summary

• Revenue increased to USD 7,343 million for 2024, up from USD 5,237 million year-over-year, driven by higher gold sales volumes and prices.

• Net profit rose to USD 3,214 million from USD 1,729 million year-over-year, reflecting strong operational performance and higher margins.

• Adjusted EBITDA from continuing operations reached USD 5,677 million, up from USD 3,819 million year-over-year.

• The group completed the sale of its Alluvials business unit, focusing resources on large-scale open pit mining projects.

• A share split (10:1) was approved and executed in March 2025, increasing the number of shares outstanding.

Financial highlights

• Gold sales reached USD 7,173 million, up from USD 5,146 million year-over-year; total revenue was USD 7,343 million.

• Gross profit increased to USD 5,560 million from USD 3,657 million year-over-year.

• Operating profit rose to USD 4,743 million, up from USD 3,123 million year-over-year.

• Basic EPS from continuing and discontinued operations was USD 3.40 (post-split), up from USD 1.49 year-over-year.

• Net cash generated by operating activities was USD 3,414 million, up from USD 2,896 million year-over-year.

Outlook and guidance

• Management expects adequate resources to continue operations for at least 12 months from the signing date, with ongoing focus on large-scale mining projects and capital commitments.

• The group is preparing for the adoption of IFRS 18 in 2027, which will impact financial statement presentation.